Mask defeat for Biden stokes fears over future pandemics A string of legal setbacks for Joe Biden’s administration, including a ruling that passengers need not wear masks on public transport in Florida, could frustrate the US Centers for Disease Control and Prevention’s fight against future pandemics.ĥ. 17Capital raises almost $3bn for first credit fund Oaktree-backed London investment firm 17Capital has raised $2.9bn for its first credit fund, which will lend money to private equity funds that want to juice returns by using more leverage to strike deals.Ĥ. Johnson apologises but denies misleading parliament Boris Johnson offered a “wholehearted apology” for breaching Covid-19 lockdown rules yesterday but was accused by a senior Conservative MP of being “no longer worthy” of high office, as MPs prepared to vote on whether he deliberately misled the House of Commons in the partygate scandal.ģ. Algeria struggles to capitalise on rising European gas demand Europe is looking to north Africa to reduce its energy dependence on Russia, but Algeria - the third-biggest natural gas supplier to the continent - does not have extra capacity that it can make available quickly.Ģ. The FT View: The Russian Orthodox Church has shown that it is a de facto pillar of Vladimir Putin’s autocratic regime, our editorial board writes.ġ. Markets: The UK plans to strip Russia’s stock exchange of a status that allows investors to claim tax relief on trades. News: Moscow said it had begun a new phase of its invasion yesterday as Ukrainian officials urged civilians in the eastern Donbas region to flee and accused Russian forces of using “powerful anti-bunker bombs” to shell the Azovstal steel plant in Mariupol. Sanctions: Russia built a domestic payment system from scratch after sanctions were imposed on its banks following the 2014 invasion of Crimea.
Here’s the rest of today’s news - Gary The latest from the war in Ukraineīusiness: Almost 200,000 workers in Russia are still on western multinationals’ payrolls despite pledges to suspend activity in the country.Įconomies: The IMF cuts its global growth forecast 0.8 percentage points to 3.6 per cent because of the war in Ukraine. Thanks for reading FirstFT Europe/Africa. The company said it would seek to charge some of the 100mn households that share other users’ accounts and that it planned to launch an ad-supported streaming service - an idea it long resisted. “We’re definitely feeling higher levels of penetration . . . and heightened competition,” said Ted Sarandos, co-chief executive.
Together, these factors were creating “revenue growth headwinds”, the company said. But it also acknowledged the impact of competition from streaming services launched by traditional media groups such as Disney, Warner Bros Discovery and Paramount. Netflix blamed the dramatic slowdown in part on saturation in its biggest markets. Investors had expected an increase of 2.6mn subscribers.
The streaming pioneer said that its number of subscribers fell about 200,000 in the first quarter, and projected it would drop another 2mn in the current quarter to about 219.6mn. Netflix has warned that its decade-long run of subscriber growth ended in the first quarter and admitted that it was becoming “harder to grow membership” in many markets. Sign up to our Asia, Europe/Africa or Americas edition to get it sent straight to your inbox every weekday morning This article is an on-site version of our FirstFT newsletter.
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